Business process re-engineering is a business management strategy that is employed to achieve core business processes such as improvement in productivity and quality of service. It also involves radical rebooting or redesigning of business processes, with the objective of achieving a significant increase in business performance including high returns on investment, efficient business workflow, and cost reduction. In addition, business process re-engineering is employed to build new infrastructure of the company to help it remain competitive in the marketplace. Business process re-engineering  re-organizes a business into cross-functional teams with complete responsibility of a process, with a focus on customer values and needs. Furthermore, organizations adopt business process re-engineering to improve their overall business operations with the help of business process management and business process integration.

Increasing demand to develop efficient software for business operations among business process re-engineering vendors is a key factor driving the global business process re-engineering market. Growth of the BFSI (Banking, Financial Services and Insurance) sector is expected to boost the global business process re-engineering market during the forecast period, owing to high quality of services offered for customer acquisition and retention in the banking sector. Moreover, the rising demand for productivity, accuracy, speed, and efficiency in business operations is expected to drive the global business process re-engineering market during the forecast period. Redundancies and low investments are factors expected to negatively impact the global business process re-engineering market between 2019 and 2027. Increase in investments from software companies for business process re-engineering solutions by well-established and emerging players can overcome these hindrances in the near future.

The global business process re-engineering market can be segmented based on deployment, enterprise, end-user, software tool, service, component, and region. Based on deployment, the market can be classified into cloud and on-premises. In terms of end-user, the market can be segmented into government & defense, BFSI (banking, financial services and insurance), energy & utilities, manufacturing, retail, transportation & hospitality, logistics, IT & telecommunication, food & beverages, and others. Based on software tool, the global business process re-engineering market can be divided into DEC model, ProcessWise, business design facility (BDF), and enterprise modelling system. In terms of enterprise size, the market can be segregated into large, small, and medium enterprises. Based on service, the global business process re-engineering market can be categorized into professional services and managed services. Based on component, the market can be segmented into product development, service delivery, and customer satisfaction.

In terms of region, the global business process re-engineering market can be classified into North America, Europe, South America, Middle East & Africa, and Asia Pacific. North America is expected to account for a prominent share of the global market during the forecast period, followed by Europe and Asia Pacific. North America and Europe hold a major share, due to presence of well-established as well as emerging players providing business process re-engineering software tools in the two regions. The market in North America is expected to witness strong growth from 2019 to 2027, due to rising demand for efficient software for business operations and increasing investments in new startups in the region. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period, owing to high investments by enterprises in increasing the business productivity and efficiency.

Key players operating in the global business process re-engineering market are IBM Corporation, Appian Corporation, The Hackett Group, Inc., Oracle Corporation, Software AG, Adobe Inc., Microsoft Corporation, TIBCO Software, Cap Gemini., Fujitsu Ltd., Pegasystems Inc. Selerant Corporation, and Accenture.

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The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Business Process Re Engineering Market

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